This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A government levies property taxes and awards discounts for timely payment. How should the ... (Read 126 times)

magmichele12

  • Hero Member
  • *****
  • Posts: 559
on: Jul 6, 2018
A government levies property taxes and awards discounts for timely payment. How should the government report discounts that it expects will be taken?
 
  A. Report as expenditures in the year the taxes are levied.
  B. Report as expenditures in the year the discounts are awarded for early payments received.
  C. Report as other financing uses.
  D. Deduct from the amount of taxes levied to determine property tax revenues.

Question 2

On an income statement, net sales minus cost of goods sold equals
 a. delivered cost of purchases.
  b. cost of goods available for sale.
  c. net income.
  d. gross profit.
  e. beginning inventory.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jointhecircus

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jul 6, 2018
Answer to Question 1

D

Answer to Question 2

D


magmichele12

  • Hero Member
  • *****
  • Posts: 559
Reply #2 on: Jul 6, 2018
Thank you


jointhecircus

  • Sr. Member
  • ****
  • Posts: 343
Reply #3 on: Jul 6, 2018
No problemo


« previous next »
 

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

This modified model of Easton’s systems theory puts government decision makers as the source of pol This modified model of Easton’s systems theory puts government decision makers as the source of pol
This chart shows the various lines of responsibility and how they differ in presidential and parliam This chart shows the various lines of responsibility and how they differ in presidential and parliam
A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
Prestige can sometimes be converted into property. Shown here is “Snooki” Polizzi, a reality ... Prestige can sometimes be converted into property. Shown here is “Snooki” Polizzi, a reality ...
A promissory note for $600.OO dated January 15, 2017. requires an interest payment of $120 00 ... A promissory note for $600.OO dated January 15, 2017. requires an interest payment of $120 00 ...
Presidential success under unified and divided government, from Eisenhower to trump Presidential success under unified and divided government, from Eisenhower to trump
Video: Bipolar Disorder

For a complete list of videos, visit our video library